Sky and BT: grudge match


Sky will face its noisy neighbours soon over television rights for English Premier League football

Keystone pipeline: carbon nation

Stopping the new pipeline addition will not halt oil sands production

CEOs and chairs: hot seat

Assessing corporate governance cannot be reduced to ticking boxes

Sellside research: price for thought

Transparent pricing could drive down the number of analysts. This might not be a bad thing

Banorte: all in the family

Family control of the Mexican bank is a risk. But there are opportunities, too

Superhero movies: with great power . . .

 . . comes great responsibility, for Disney’s sales growth


Theme parks: rollercoaster

Done right a theme park investment can cover the cost of a visit

Caesars: the house always wins

The gaming house restructuring turns finance theory on its head

Christmas returns: where’s the jingle?

Pearls and classic cars are the gifts that keep on giving

EM debt funds: the bonds that tie

Despite growing risks, outflows have been limited

  • BYD: latest to crash

    Chinese local brands are having a tough time. Bad timing for Daimler joint venture partner BAIC (which also has a joint venture with Hyundai Motor of Korea as well as its own in house developed brands) which will list on Friday. Just two days after Chinese automaker Geely announced a profit warning, sending its stock tumbling nearly one fifth, electric car maker BYD is the latest to take a dive. BYD, in which highly regarded investor Warren Buffett has a 10 per cent stake, fell by nearly one half in afternoon trading in Hong Kong. Volumes by the 4pm close were nearly 40 times the prior day’s fifteen day moving average. There has been no news or announcement explaining the fall.

    BYD has had a troubled few years, delivering losses in seven out of the past ten quarters. Estimates for 2015 are for the company to deliver earnings per share of Rmb0.76 – just shy of the Rmb0.81 eps made in 2007, and well below the Rmb1.77 achieved in the 2009 peak. Up until today’s fall, it was trading at around 40 times next year’s earnings estimates based on the hoped-for recovery.

  • US Stocks – as safe as they seem?

    Europe and Japan are fighting deflation, emerging markets look wobbly and political risk is everywhere. Bond yields are minuscule. The default solution - buy big cap US stocks. How could this trade go wrong? Join the discussion at midday (London time).

  • Lending Club joins public equity market

    Lending Club may be the most intriguing company to reach the public markets in years. Is it a financial institution? Is it tech company that is going to challenge the banking sector? Is it just a nifty website that is going to be copycatted by everyone who sees the opportunity in "peer-to-peer", excuse me, "marketplace" lending? Or will Uber just buy Lending Club and deliver the cash in the back of its sedans? We'll discuss here starting at 9am NY time, 2pm GMT.

  • Tesco: trouble at the tills

    Profit warnings come in threes? Not at Tesco. The UK based retailer has issued a fourth warning, sending the shares down another tenth. At some point they will bottom out, and anyone brave enough to have bought the shares at the right time will make enough money to start shopping at Waitrose. But is now that time? Join in the discussion, starting at midday UK time.